This document discusses the importance of employee benefits in human resource management (HRM) and its impact on employee retention and motivation. It explores the strategies used by Genentech and Zappos to attract and retain employees. The document also highlights the role of incentives in motivating employees and increasing their performance.
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Running head: HUMAN RESOURCE MANAGEMENT HUMAN RESOURCE MANAGEMENT Name of the Student: Name of the University: Author Note:
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1HUMAN RESOURCE MANAGEMENT Question 1: For both the companies,Genentechand Zapposemployeebenefithasformed an important part of the human resource management. It is important to note that the market competitors of both these companies are constantly trying to attract and hire the employees that are best. Genentech and Zappos do these by creating a workplace where the employees will be treated equally with respect and valued as well. Companies have now understood that the employees that are happy are more than a willing to stay with the company for a longer time period (Tangthong, Trimetsoontorn and Rojniruntikul 2014). Thus, HRM acts as a force that drives in building the willingness among the employees, attracting the proper candidates and increasing the employee retention. The benefits can be used as a strategic section that helps in enhancing the productivity, morale, effectiveness and achievement of the goals (Shaw, Park and Kim 2013). While searching and applying for a job has now become easier due to the internet and it has helped the companies to research for the company as well (Ko and Hur 2014). Question 2: Zappos and Genentech offers the employees with the benefits that acts to retain and attract the employees. It is important to mention that if the employees are provided with values and meaning then it leads to increased morale of the employees. Due to high morale, the employee stays motivated and this on the longer period helps in enhancing the performance of the employees and make them feel secured when working in these organizations (Bullock, Stritch and Rainey 2015). This leads to a reduced turnover rates and the employees remains satisfied. The desired behaviour in the organization are rewarded and the employees that want to gain the freedom is provoked by the satisfaction (Singh and Jain 2013). This on the other hand motivates the employees and increases their loyalty and morale. Incentives also work as a
2HUMAN RESOURCE MANAGEMENT motivation for the employees and organization returns the benefits that they have received from thehardworkingemployees.thisinspirestheemployeestodomoreandincreasetheir performance for the company (Muogbo 2013). Question 3 The incentives that are offered by the Zappos and Genentech might be considered by the other companies as excessive. While it is important to note that the if the organizations have the utmost respect for the employees and have the requisite amount of resources then it can be used as an incentive benefit for the employees. The organization need a total control on to the employees so that greater income can be generated and the best of the employees can also be incentivised (Bennett and Levinthal 2017). However, it is important to note that the it will risky affair to facilitate compensation to the employees without prioritising the problems that require urgent attention. The several other factors that require to be considered because to provide incentive benefits to the employees, the factors the influence the benefit components like the workforce demographics, culture and financial condition of the company also requires attention (Rehman and Ali 2013).
3HUMAN RESOURCE MANAGEMENT Reference Bennett, V.M. and Levinthal, D.A., 2017. Firm lifecycles: Linking employee incentives and firm growth dynamics.Strategic Management Journal,38(10), pp.2005-2018. Bullock, J.B., Stritch, J.M. and Rainey, H.G., 2015. International comparison of public and private employeesâ work motives, attitudes, and perceived rewards.Public Administration Review,75(3), pp.479-489. Ko, J. and Hur, S., 2014. The impacts of employee benefits, procedural justice, and managerial trustworthiness on work attitudes: Integrated understanding based on social exchange theory. Public Administration Review,74(2), pp.176-187. Muogbo, U.S., 2013. The impact of employee motivation on organisational performance (a study of some selected firms in anambra state nigeria).The international journal of engineering and science,2(7), pp.70-80. Rehman, R. and Ali, M.A., 2013. Is pay for performance the best incentive for employees?. Journal of Emerging Trends in Economics and Management Sciences,4(6), pp.512-514. Shaw, J.D., Park, T.Y. and Kim, E., 2013. A resourceâbased perspective on human capital losses, HRMinvestments,andorganizationalperformance.Strategicmanagementjournal,34(5), pp.572-589. Singh, J.K. and Jain, M., 2013. A Study of employeeâs job satisfaction and its impact on their performance.Journal of Indian research,1(4), pp.105-111. Tangthong, S., Trimetsoontorn, J. and Rojniruntikul, N., 2014. HRM Practices and Employee Retention in ThailandâA.International Journal of Trade, Economics and Finance,5(2).